Shanghai Electric Group Company Limited (SEHK:2727) agreed to spin-off Shanghai Electric Wind Power Group Co., Ltd. on January 6, 2020. Post completion, Shanghai Electric Wind Power Group will be listed on the Science and Technology Innovation Board (the "Sci-Tech Board") of Shanghai Stock Exchange. Transaction is subject to obtaining approvals from the relevant PRC regulatory including approval from SSE and the performance of issuance registration procedures of China Securities Regulatory Commission.

Transaction was approved by the Board of Directors of Shanghai Electric Group Company at the twenty-seventh meeting of the fifth session of the Board of Directors on January 6, 2020. On April 15, 2020, Shanghai Electric Group Company held the thirty-first meeting of the fifth session of the Board of Directors, at which Board of Directors approved the transaction. On May 7, 2020, shareholders of Shanghai Electric Group Company approved the transaction.

On May 18, 2020, Stock Exchange of Hong Kong Limited confirmed that Shanghai Electric Group Company may proceed with the transaction. The Board of Shanghai Electric Group Company Limited announced that SEWP submitted its listing application to the SSE on June 18, 2020, and received a notice of acceptance of the listing application from the SSE on June 19, 2020. As of June 19, 2020, the Proposed Spin-off is subject to, among other things, approval from SSE and the completion of issuance registration procedures with China Securities Regulatory Commission.

The terms of the offering plan, including the size and price range of the offering, and the timetable of the Proposed Spin-off have not yet been fixed as of June 19, 2020. As per announcement made on November 20, 2020, The issuance and listing of the shares of SEWP still requires the consent on the registration from the China Securities Regulatory Commission, which remains uncertain. On March 31, 2021, Shanghai Stock Exchange's Sci-tech Innovation Board Stock Listing Committee has approved the listing of Shanghai Electric Wind Power Group Co., Ltd. As of May 17, 2021, the registration application has been approved by China Securities Regulatory Commission.

The shares are expected to be listed on the Shanghai Stock Exchange on May 19, 2021.